JPMorgan Chase & Co. Sells 291,977 Shares of Global Medical REIT Inc. $XRN

JPMorgan Chase & Co. reduced its position in shares of Global Medical REIT Inc. (NYSE:XRN) by 72.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,144 shares of the company’s stock after selling 291,977 shares during the quarter. JPMorgan Chase & Co. owned about 0.81% of Global Medical REIT worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after buying an additional 721 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Global Medical REIT during the third quarter worth $35,000. New York State Teachers Retirement System acquired a new position in Global Medical REIT in the third quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its holdings in Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after buying an additional 3,046 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Global Medical REIT in the 2nd quarter valued at about $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on XRN. Wall Street Zen upgraded shares of Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Global Medical REIT Stock Down 0.2%

Global Medical REIT stock opened at $33.19 on Friday. The company has a fifty day simple moving average of $35.46 and a 200 day simple moving average of $34.16. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $43.05. The company has a market cap of $439.10 million, a P/E ratio of -36.88 and a beta of 1.16.

Global Medical REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Wednesday, May 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 9.0%. Global Medical REIT’s payout ratio is -333.33%.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.